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Nifty can face a hurdle around 19,200 on the back of more call writing compared to put writing. However, option activity at 19,200 Strike will provide cues about Nifty Intra-day direction on Monday, says Ashwin Ramani, Derivatives & Technical Analyst, SAMCO Securities.
Equity markets in India reached new records in the last week of June, ending the month with a 3.5% gain. The rally was supported by strong foreign institutional investor flow and positive sentiment from the advance of the southwest monsoon. Several smallcap and midcap stocks delivered double-digit returns. Analysts expect the upward trend to continue, and investors will be watching for economic data releases and insights from the US Federal Reserve's FOMC minutes going ahead.
The Nifty IT index was trading 0.11 per cent up at 28830.55.
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